By Sylva OBASI
The Maritime Arbitrators Association of Nigeria (MAAN) have renewed calls for the adoption of arbitration as a mainstream mechanism for resolving shipping-related disputes, warning that the country risks losing significant revenue if such matters continue to be handled overseas.
This concern was raised during the latest edition of Maritime Platform, a radio programme dedicated to discussions on maritime developments, policy issues and industry trends in Nigeria.
Featured as guests on the programme were the immediate past President of the Maritime Arbitrators Association of Nigeria, Mr Bodunrin Adewole, and another former president of the association, Mr Adewale Jones.
Speaking during the program, both experts described maritime arbitration as a strategic tool that can significantly improve dispute resolution efficiency within Nigeria’s shipping and logistics ecosystem.
They noted that arbitration offers faster outcomes than conventional litigation, especially in commercial disputes involving shipping contracts, cargo claims, charter agreements and port-related transactions.
According to the experts, many maritime disputes involving Nigerian firms are still being taken to foreign countries for arbitration, resulting in avoidable financial losses for the nation.
(R-L): Fomrer President of MAAN, Mr Adewale Jones, Immediate past President of MAAN, Mr Bodunrin Adewole and Host of Maritime Platform Radio Program, Mr Sylva Obasi in a group photo during the live Radio show, yesterday in Lagos.
They warned that continued dependence on foreign arbitration centres could weaken Nigeria’s legal and maritime institutions while draining resources that could otherwise support domestic economic growth.
The experts further argued that Nigeria has the legal professionals, maritime practitioners and institutional framework required to successfully manage complex arbitration cases locally.
Mr Adewale Jones speaking during the live Radio program in Lagos.
They stressed that strengthening local arbitration systems would help retain legal fees, consultancy payments and related revenues within Nigeria’s economy.
Industry operators also believe that improved arbitration mechanisms could boost investor confidence by providing quicker and more predictable outcomes on business disputes.
Mr Bodunrin Adewole speaking during the live Radio program in Lagos.
The discussion highlighted the increasing importance of dispute resolution systems as global trade becomes more complex and maritime transactions continue to expand, noting that an efficient arbitration framework could enhance Nigeria’s competitiveness as a leading maritime hub in West Africa.
The experts further called on government agencies, maritime institutions and private sector players to support policies that promote domestic arbitration practices.
Past Presidents of MAAN: Mr Adewale Jones and Mr Bodunrin Adewole speaking during the live Radio program in Lagos yesterday.
The weekly Maritime Platform Radio programme continues to provide stakeholders with updates on major developments across the maritime industry.
The programme is powered by the Nigerian Ports Authority and features expert analysis, trending maritime news stories and stakeholders’ insights aimed at advancing Nigeria’s maritime business environment.
